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India expected to receive total remittance of $80 bn in 2018
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SME Times News Bureau | 10 Dec, 2018
India is expected to receive a total remittance of $80 billion in 2018,
said the latest edition of the World Bank's Migration and Development
Brief, released on Saturday.
"Among major remittance recipients,
India retains its top spot, with remittances expected to total $80
billion this year, followed by China ($67 billion), Mexico and the
Philippines ($34 billion each), and Egypt ($26 billion)," the brief
said.
"As global growth is projected to moderate, future
remittances to low and middle-income countries are expected to grow
moderately by 4 per cent to reach $549 billion in 2019. Global
remittances are expected to grow 3.7 per cent to $715 billion in 2019."
According
to the brief, remittance flows rose in all regions and was driven by a
stronger economy and employment situation in the US and a rebound in
outward flows from Gulf Cooperation Council (GCC) countries and the
Russian Federation.
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